"Hamilton Academical FC is currently under threat of administration following a default under its secured lending arrangements,"
"The Charge Holder has made repeated attempts to engage constructively and reach an agreed resolution, however matters remain unresolved at this time, including uncertainty regarding the true ownership of shares. Further updates will be provided in due course."
"I can confirm that The Funding Globe is the charge holder, I remain a director of the club and there will be further updates in due course,"
Hamilton Academical faces possible administration after defaulting on a secured loan from The Funding Globe. The Funding Globe holds a charge against the club after lending money to cover payroll for players and staff. Jonny Towers, a company representative, was appointed sole director when the loan was made and remains listed at Companies House. Previous owner Seref Zengin sold the club to Morley Sports Management at the turn of the year, but the debt remains unpaid and ownership filings are unclear. Two Morley Sports Management representatives joined the board in January and declined to comment on the latest development.
Read at www.bbc.com
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